For MPEG recording, using ATI MMC, using the sub-broadcast depths (15-20mbps), then Theatre 200 is better. This is because it has a % more of the hybrid encoding. I still do some 4:2:0 20mbps hobby recording, so it matters for me.
For AVI, zero difference.
The per-card drivers tend to matter more.
Thinking back 20 years, I think there was a slight different in the native palette, with Theatre 100 being not truly 704 or 720, but more like 712 with padding. And the Theatre was 720, but with different offset. But it doesn't matter, it's all moot, because drivers and card version affect it anyway.
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